Kathmandu– The Nepal Rastra Bank (NRB) and the International Finance Corporation (IFC) have signed a memorandum of understanding to collaborate on the strategic development of climate finance in Nepal.
The MoU was signed during a programme at the central bank by NRB Executive Director Dayaram Sharma Pangeni and Gregory Smith, IFC’s Manager for Country Advisory and Economics in South Asia. Under the agreement, IFC will provide technical assistance to NRB, including the development of a climate finance strategy, a draft roadmap, and an implementation framework to be rolled out in phases.
According to a press release issued by NRB, the partnership will also include training and capacity-building programmes for the central bank and the broader financial sector.
The project aims to strengthen financial resource mobilization for climate adaptation by addressing climate-related financial risks in Nepal and is scheduled to be implemented by September 2028.
Speaking at the event, NRB Deputy Governor Bam Bahadur Mishra expressed confidence that the agreement would help improve climate finance policy and its implementation, while IFC’s Gregory Smith said the partnership is expected to deliver concrete outcomes for advancing climate finance in Nepal.
